A new survey has said sponsors of Golf Superstar Tiger Woods have lost around 5 to 12 billion dollars since reports of his extra marital affairs broke out.

The new study by the University of California Davis examined stock market returns for the 13 trading days that fell between November 27, the date of Wood’s car crash and December 17 a week after the sports
champion announced his indefinite leave from golf.

The study says the total share holder loses may exceed several decades worth of Tiger Woods personal endorsement income noting that these are separate and much larger than the golfers own earnings.

Before the scandal Woods got about 100million dollars a year in endorsement income, more than any other income.

The scandal exploded following an accident on November 27 when Woods crashed his SUV outside his Florida mansion sustaining minor injuries.

The accident may have occurred following a fight with his wife Elin accusing her husband of having an extra marital affair.

Since then 10 women have claimed to have been involved with Woods out of which 8 have been named.

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